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Key Takeaways
- U.S. equities were mixed at midday a day after the Dow Jones Industrial Average, S&P 500, and Nasdaq hit record highs on optimism about Federal Reserve interest-rate cuts.
- Warner Bros. Discovery and Paramount Skydance shares jumped for a second straight day on reports that Paramount is preparing a bid to buy its media rival.
- RH blamed tariffs for missing profit and sales estimates, and the upscale furniture and home accessories retailer cut its guidance.
U.S. equities were mixed and little changed at midday after all three major indexes set all-time highs yesterday on optimism about Federal Reserve interest-rate cuts. The S&P 500 rose, the Dow Jones Industrial Average fell, and the Nasdaq was little changed.
Shares of Warner Bros. Discovery (WBD) and Paramount Skydance (PSKY) took off for a second straight session following reports Paramount was preparing to make a cash offer to buy all of its media rival.
Also jumping for a second day were shares of Tesla (TSLA) on indications CEO Elon Musk is shifting the electric vehicle maker’s focus to robotics.
Super Micro Computer (SMCI), or Supermicro, shares climbed when the computer hardware manufacturer said it was delivering to customers products powered by Nvidia’s (NVDA) high-speed Blackwell Ultra artificial intelligence chips.
The selloff of Oracle (ORCL) continued after the software giant’s shares soared 36% on Wednesday on revenue guidance that blew away analysts’ estimates.
RH (RH) shares tumbled as the upscale furniture and home accessories retailer missed profit and sales forecasts and slashed its outlook on the effect of tariffs on its business.
Shares of Freeport-McMoRan (FCX) dropped as its copper mine in Indonesia continued to be shut down after a mudslide earlier this week trapped seven workers.
Oil and gold futures advanced. The yield on the 10-year Treasury note increased. The U.S. dollar gained on the euro, pound, and yen. Prices for most major cryptocurrencies were higher.
